390 Totowa · Paterson, NJ 07501

$599,900

16 bd · 16.0 ba · — sqft · MultiFamily · 11 Days on market

Built 1990 Fair condition 3,049 sqft lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.6/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Appreciation +5.5/10.0
• Rent growth +5.0/5.0
• Livability +3.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Exceptional investment opportunity! Well maintained 4 family with strong income potential. This multi unit building offers 4 separate units - all separate utilities and as a bonus - one vacant unit. A great maintainable starter, 1 bedrooms each apartment, ideal for investors seeking awesome cash flow or owner occupants looking to occupy the vacant unit and offset rent.

Key facts

• 3,049 sq ft lot
• Built 1990
• Listed 11 days

Property features AI

Finance

• Financial info: Four-unit property; Reported rents: Unit 1 $1,550; Unit 2 $1,600; Unit 3 $1,650; Unit 4 not currently rented; Net operating income and operating expense values reported as 0

Exterior

• Parking: No driveway; No garage
• Utilities: Natural gas service; Public sewer; Public water
• Home design: Two-story multi-unit building (4 units)
• Construction: Approximate year built
• Exterior features: Aluminum siding; Asphalt shingle roof; Renovated in 2020

Interior

• Kitchen: Refrigerator included in each unit
• Bedrooms: Four 1-bedroom units (each unit has 1 bedroom)
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Forced hot air heating (natural gas); Window air conditioning units
• Interior features: Unfinished basement; Carbon monoxide detectors; Smoke detectors
• Laundry & utility: Owner pays water; tenants pay electric, gas, and heat (per unit)

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $600k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $600k).
• Cap rate 8.8% vs local median 3.5% in Paterson — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#293 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: schools D, employment D, crime F.
• Paterson Public School District (suburban): math 6% / reading 26% proficiency, ranked #458 of 472 in NJ (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+11.4%/yr); 52 active listings in the ZIP; lower-income renter base — watch delinquency; 860 units permitted in Passaic County in 2024 (614 in 5+ unit buildings).
• At $6,825/mo this rent would consume 185% of the median local household income ($44k/yr) (locally 3954% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($4k loan paydown + $6k appreciation (1.0% local appreciation)).
• Passaic County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.0% appreciation + 8.0% rent growth), your $168k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $599,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48 N York St	0.54mi	17/6.0 (+1)	—	9mo	$990,000	—	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.01% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 1.76×
• Total profit: $126,959
• Equity at exit: $205,021

10-year hold

• IRR: 20.9%
• Equity multiple: 3.92×
• Total profit: $490,233
• Equity at exit: $272,630

Cash invested: $167,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07501

• Home prices YoY: 0.3%
• Rents YoY: 11.4%
• Active inventory: 52
• Price-to-rent: 29.3×

Monthly cashflow live

• Estimated rent: $6,825 high
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $8,998/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,433
• Net cashflow: $1,246

Break-even live

Break-even rent $5,248

Max offer price $599,900

Occupancy floor 77%

Sensitivity live

Price	-10% $1,661	-5% $1,453	+0% $1,246	+5% $1,039	+10% $831
Rent	-10% $707	-5% $976	+0% $1,246	+5% $1,516	+10% $1,785
Rate	-1.0pp $1,548	-0.5pp $1,399	base $1,246	+0.5pp $1,091	+1.0pp $932

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,824
Total (4 units)			$6,825

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $599,900 Active 11 DOM
2. 2026-06-18
   days on market $599,900 Active 8 DOM
3. 2026-06-17
   days on market $599,900 Active 7 DOM
4. 2026-06-16
   days on market $599,900 Active 6 DOM
5. 2026-06-15
   days on market $599,900 Active 5 DOM
6. 2026-06-13
   days on market $599,900 Active 3 DOM
7. 2026-06-13
   remarks 372-char remark
8. 2026-06-13
   listed $599,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $81,900
• − Mortgage interest: −$33,604
• − Property taxes: −$8,998
• − Insurance: −$3,000
• − Repairs & maintenance: −$6,552
• − Management: −$6,552
• − Depreciation: −$17,452
• Taxable income: $5,743
• Est. tax owed @ 24.0%: −$1,378
• After-tax cash flow: $13,573/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This 4-unit multi-family property requires significant exterior and interior repairs, but presents a strong investment opportunity with strong income potential.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but age is implied
• Major HVAC/mechanicals — No visible systems, but age is implied

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both paint interior walls — Improves interior appearance and rental appeal
• Both replace HVAC — Enhances comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is implied	Major	$15,000–50,000
HVAC/mechanicals · No visible systems, but age is implied	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both paint interior walls — Improves interior appearance and rental appeal ↑
• Both replace HVAC — Enhances comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Paterson Public School District
• NCES district ID: 3412690
• Math proficiency: 6% ▼ -12.00%
• Reading proficiency: 26% ▼ -4.00%
• Median HH income: $34,365
• Composite: 13.02/100
• National rank: #9568
• State rank: #458 of 472 in NJ

Livability — Paterson

• Score: 69/100
• State rank: #293
• US rank: #8763

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment D Housing C+ Health & safety A User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paterson, NJ
• County: Passaic County · 360,294 people
• City population: 85,452
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 35,481
• Household income: $44,300
• Rent vs Own: 83.9% rent · 16.1% own
• Severe rent burden: 3954.0

Population outlook (Passaic County) Hauer SSP2

• Today (2025): 525,915 people
• By 2030: 532,160 · +1.2%
• By 2040: 543,670 · +3.4%
• By 2050: 554,326 · +5.4%
• By 2075: 584,728 · +11.2%
• By 2100: 598,978 · +13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Black 24% Two or more races 8% White 5% Asian 3%
• Hispanic origin (detail): Mexican 7% Puerto Rican 10% Dominican 34%
• Foreign-born: 42% · Canada, Jamaica
• Languages at home: 34% English-only · Spanish 63% Other Indo-European 3%

Political lean MEDSL · Passaic

• 2024 margin: Toss-up / Even · D 46.9% · R 49.8% · Other 3.3%
• 2008→2024 swing: -24.6pp toward R · 2008: 21.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+16.5 2016: D+21.8 2012: D+27.3 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.01%
• Current HPI: 292.4223
• Rent YoY: ▲ 11.37%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

1 event — show timeline

• 2026-06-10 Listed $599,900 GSMLS